When supervisors perform operating tasks alongside the same people they supervise some people, particularly upper management, see them as ________

Answer each of the following questions (a-c) with a separate short paragraph per question. (a) What is the difference between a real account and a nominal account? Give an example of each type of account. Why is this distinction important for the

closing process? (b) What two purposes are served in making closing entries? (c) Why is the Dividends account closed directly to Retained Earnings rather than to the Income Summary account?

All internal auditors are required to have the CIA designation in order to practice internal auditing

a. True b. False Indicate whether the statement is true or false